Azul Brazilian Airlines has acquired $90 million in convertible bonds in TAP Portugal, the equivalent of 40% of the economic value of TAP Portugal, spokesperson Isabela Palma told ATW. The transaction is pending approval from Portuguese civil aviation authority ANAC. In 2015, the Atlantic Gateway consortium, which is partly backed by JetBlue Airways and Azul founder David Neeleman, acquired a 61% stake in TAP from the Portuguese government. But in February of this year—after ...

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